Togo : Coopec SIFA receives $340,000 to empower women in rural areas

Economic governance
Tuesday, 11 June 2019 18:58
Togo : Coopec SIFA receives $340,000 to empower women in rural areas

(Togo First) - Grameen Crédit Agricole (GCA) Foundation just granted $340 thousand to microfinance institution Coopérative d’épargne et de crédit SIFA Coopec SIFA).

This should help Coopec SIFA, which mainly helps women in rural areas in Togo, maintain and improve its savings and credit services aimed at poor women in rural areas in the north.

According to a document related to this operation, the targets can generate more revenues thanks to this help.

In the long run, GCA and Coopec SIFA plan to empower their clients thanks to the credit they provide.

In December 2018, Coopec SIFA already had 38,000 members, of which 86% were women. Its overall assets are estimated to be $6 million while its loan and deposits portfolios are $4.8 million and $600 thousand respectively.

GCA is a joint initiative of French retail bank Crédit Agricole and Muhammad Yunus, founder of Grameen Bank of Bangladesh.

Séna Akoda

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